Fact based stock research
First Internet (NasdaqGS:INBK)

US3205571017

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

First Internet stock research in summary

firstinternetbancorp.com

ANALYSIS: With an Obermatt Combined Rank of 49 (worse than 51% compared with investment alternatives), First Internet (Regional Banks, USA) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of First Internet are a good value (attractively priced) with a consolidated Value Rank of 93 (better than 93% of alternatives) but show below-average growth (Growth Rank of 21), and are riskily financed (Safety Rank of 19), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 49, is a hold recommendation based on First Internet's financial characteristics. As the company First Internet's key financial metrics exhibit good value (Obermatt Value Rank of 93) but low growth (Obermatt Growth Rank of 21) and risky financing practices (Obermatt Safety Rank of 19), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 93% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	93
Growth Rank	21
Safety Rank	19
Combined Rank	49

Country	USA
Industry	Regional Banks
Index	Sound Pay USA, NASDAQ
Size class	X-Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: First Internet

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	55	63	97	93
GROWTH
GROWTH	96	51	65	21
SAFETY
SAFETY	57	21	25	19
SENTIMENT
SENTIMENT	52	24	1	^new
360° VIEW
360° VIEW	85	20	49	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better First Internet is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	55	63	97	93
GROWTH
GROWTH	96	51	65	21
SAFETY
SAFETY	57	21	25	19
COMBINED
COMBINED	92	34	86	49

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of First Internet the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 93 (better than 93% compared with alternatives) for 2025, First Internet shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for First Internet. Price-to-Sales (P/S) is 94, which means that the stock price compared with what market professionals expect for future sales is lower than for 94% of comparable companies, indicating a good value regarding First Internet's revenue size. The same is valid for expected Price to Profits (or Price / Earnings, P/E), more favorable than for 100% of alternatives, and it's also true for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 95. But, compared with other companies in the same industry, dividend yields are expected to be lower than average; only 14% of all competitors have even lower dividend yields than First Internet (a Dividend Yield Rank of 14). 86% alternative investments in the same business provide a higher dividend yield. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 93, is a buy recommendation based on First Internet's stock price compared with the company's operational size and dividend yields. The below-average dividend yield may be a good sign, as it could mean the company has more attractive investment opportunities for the generated cash than to pay it out as dividends. A low dividend yield can also indicate a growth phase. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	32	72	97	94
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	81	53	100	100
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	54	100	97	95
DIVIDEND YIELD
DIVIDEND YIELD	17	14	13	14
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	55	63	97	93

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of First Internet; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 21 (better than 21% compared with alternatives), First Internet shows one of the most restricted growth dynamics in its industry. There is little momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for First Internet. Sales Growth has a rank of 90 which means that currently, professionals expect the company to grow more than 90% of its competitors. Capital Growth is also above 6% of competitors with a rank of 55. But Profit Growth only has a rank of 6, which means that currently professionals expect the company to grow its profits less than 94% of its competitors. And Stock Returns have also been below average with a rank of only 3. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 21, is a sell recommendation for growth and momentum investors. Profits are sometimes low if the company invests in the future. The positive revenue and capital investment outlook confirms such an interpretation. Both revenues and capital are solid growth indicators, and lower profits in such a case would be encouraging. But the investors see it differently by punishing the share price. Sometimes, Mister Market is not very reliable, because it is not uncommon for it to be volatile. Investors should look out for signs of growth expenditure that could justify low profit growth, and they may also find reasons why recent stock price developments don't confirm the growth outlook of operations. While operating growth indicators are not perfect, they are more reliable indicators for future performance than stock prices that can repeatedly surprise investors. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	84	88	92	90
PROFIT GROWTH
PROFIT GROWTH	56	1	86	6
CAPITAL GROWTH
CAPITAL GROWTH	55	57	43	55
STOCK RETURNS
STOCK RETURNS	97	57	3	3
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	96	51	65	21

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of First Internet.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 19 (better than 19% compared with alternatives), the company First Internet has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of First Internet is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for First Internet and the other two below average. Refinancing is at 88, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 88% of its competitors. But Leverage is high with a rank of 14, meaning the company has an above-average debt-to-equity ratio. It has more debt than 86% of its competitors. Liquidity is also on the riskier side with a rank of 1, meaning the company generates less profit to service its debt than 99% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 19 (worse than 81% compared with alternatives), First Internet has a financing structure that is significantly riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for First Internet are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with First Internet and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	12	10	14	14
REFINANCING
REFINANCING	94	100	100	88
LIQUIDITY
LIQUIDITY	67	5	1	1
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	57	21	25	19

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of First Internet and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	53	29	^new
OPINIONS CHANGE
OPINIONS CHANGE	18	50	12	^new
PRO HOLDINGS
PRO HOLDINGS	6	1	6	^new
MARKET PULSE
MARKET PULSE	78	69	14	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	52	24	1	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for First Internet.
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